Finance

HDB to sell new S$700m 1.75% senior bond at par

Wed, Nov 20, 2019 – 8:23 AM

THE Housing and Development Board (HDB) will issue a S$700 million, five-year bond at par value, as part of the public housing authority's S$32 billion multicurrency medium-term note programme.

The senior unsecured bond matures on Nov 25, 2024. It will carry a fixed coupon of 1.75 per cent to be paid every May 25 and Nov 25, starting from 2020, the term sheet showed.

Net proceeds will be used to finance HDBs development programmes and its working capital requirements, as well as to refinance existing borrowings.

HDB has an “Aaa” issuer rating from Moodys, and the new bond is also expected to be rated “Aaa”.

The settlement date is Nov 25, 2019.

The bond will be available in denominations of S$250,000, and listed on the Singapore ERead More – Source

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